Earnings at Macau’s six biggest casino operators dropped 40 per cent in the first half as China president Xi Jinping’s corruption crackdown continued to take its toll on the only part of China where gambling is legal.
The leading casinos reported combined first-half earnings of a little more than $3bn before interest, taxes, depreciation and amortisation, down from more than $5bn in the same period last year.
After a decade of rapid growth, annual gaming revenue fell in Macau for the first time in 2014 as the mainland high rollers who had been driving growth in the former Portuguese territory took fright at Beijing’s measures.
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